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Oracle\u2019s founder and largest shareholder, Larry Ellison<\/a>, has jumped two spots on the Bloomberg Billionaires Index after the tech behemoth posted a bumper outlook this week.<\/p>\n Only yesterday Ellison\u2019s net worth was $138 billion but overnight that leapt $14 billion to $152 billion<\/a>. <\/p>\n That\u2019s largely because the 79-year-old entrepreneur owns<\/a> more than 40% of the cloud applications business, which saw its shares surge 13% on June 11 after the company posted positive year-end financial results. <\/p>\n As a result of his sudden increase in wealth Ellison jumped past two other tech titans on Bloomberg\u2019s Billionaires Index<\/a>: former Microsoft CEO Steve Ballmer<\/a> and the founder of Google<\/a> parent company Alphabet, Sergey Brin.<\/p>\n While Ballmer and Brin have both seen boosts to their wealth so far this year ($21.2 billion and $27.2 billion respectively) it hasn\u2019t been enough to stay ahead of Ellison<\/a>, whose fortune has ballooned by $29.1 billion in 2024 alone, taking it to a record high. <\/p>\n The reason for their collective riches growing so exponentially is Silicon Valley\u2019s favorite term: artificial intelligence.<\/p>\n Turning first to Oracle, in its bumper outlook released Tuesday<\/a>, CEO Safra Catz said the organization had signed \u201cthe largest sales contracts in our history\u2014driven by enormous demand for training AI large language models.\u201d<\/p>\n Catz, who previously held the role of CFO at Oracle, continued: \u201cThroughout fiscal year 2025, I expect continued strong AI demand to push Oracle sales\u2026 even higher.<\/p>\n \u201cIn Q4 alone, Oracle signed over 30 AI sales contracts totaling more than $12.5 billion\u2014including one with OpenAI<\/a> to train ChatGPT in the Oracle Cloud.\u201d<\/p>\n As well as the OpenAI contract, Oracle is also working more closely with Microsoft\u2014a backer of the ChatGPT maker\u2014and Google. During the earnings call, Ellison said: \u201cAs customers continue to choose and use multiple clouds, hyperscalers like Microsoft<\/a> and Google are responding by interconnecting their clouds.\u00a0<\/p>\n \u201cOracle recently signed an agreement with Google to interconnect our clouds\u2026 We expect the Oracle database to be available within the Google Cloud in September this year.\u201d<\/p>\n Others with Big Tech ties have also seen their wealth spike this year thanks to\u2014you guessed it\u2014AI. Across the board the super-rich have seen at least $150 billion added to their fortunes<\/a> courtesy of the tech.<\/p>\n Take Brin<\/a>, who owns 41.8% of Alphabet\u2019s Class B stocks\u2014per the company\u2019s 2023 proxy statement<\/a>\u2014and CEO Sundar Pichai, who owns 227,560 Class A shares. Both individuals have seen their fortunes grow thanks to the disruptive technology, with Pichai now nearing billionaire status<\/a> thanks to his salary package and stock awards.<\/p>\n Alphabet\u2019s stock has surged this year<\/a>\u2014up 28% for the year to date at the time of writing\u2014but has bounced particularly when earnings have shared positive AI news. On April 25, in one example, the company announced its Q12024 results<\/a> and said it was \u201cwell under way with our Gemini era<\/a>\u201d and was continuing to establish itself as an AI leader.<\/p>\n The market liked what it heard, and shares opened 15% higher<\/a> the day following the announcement compared to the morning prior.<\/p>\n The story is the same for Ballmer and Microsoft co-founder Bill Gates. In April, Gates\u2019s wealth grew $2 billion<\/a> off the back of an earnings call which mentioned AI 50 times, as CEO Satya Nadella revealed a raft of new AI deployments. He said: \u201cWe have the most powerful AI infrastructure, and it\u2019s being used by our partner, OpenAI, as well as\u00a0Nvidia<\/a>\u00a0and leading AI startups like Adept and Inflection to train large models.\u201d<\/p>\n After the call Microsoft shares logged their best single-day percentage hike since November 2022. Analysts also pointed out the shares reached a milestone on an absolute basis\u2014they had previously never risen more than $19.77 in a single session, until they did at the end of April.<\/p>\n Elsewhere Meta founder Mark Zuckerberg\u2019s wealth has grown thanks to a combination of his \u201cyear of efficiency\u201d and his adventures in artificial intelligence. In January, Zuckerberg outlined a raft of measures to streamline the company and in February outlined a wider artificial intelligence strategy<\/a>\u2014since then his wealth has grown from $63 billion to $181 billion, per Bloomberg\u2019s Billionaires Index<\/a>.<\/p>\n<\/div>\n\nEllison\u2019s not the only one<\/h2>\n